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Business News

Reappointed Russian Railways Corp. chief highlights railway development plans

Vladimir Yakunin, the president of Russian Railways Corp., reappointed for in June, has disclosed ambitious plans to further develop the state company...

Open the world with KLM Royal Dutch Airlines

KLM reviews its achievements in 2012 and highlights more ambitious strategic plans for 2013...

Issue:     Author: Irina Kozlova
Tags: KLM

Frances Provence becomes closer Direct flight from Moscow to Marseilles on Air France

Air France explains why Marseilles is more than just a summer tourist destination for global travelers...

Issue:     Author: Irina Kozlova
Tags: Air France

Region Development presents new generation formats of family real-estate properties

The Moscow Business Club and Region Development present new formats of family and children real estate to audience that included Ice Hockey Olympic Champion Viktor Shalimov, BEST-Novostroi Board Chariperson Irina Dobrohotova...

Issue:     Author: Edwards Johnson
Tags: Region Development

Nezavisimost releases report for 2011 and outlines its new plans for the future

The Nezavisimost Group's report for 2011 put its gross revenues, compiled according to IFRS, at RUR44.56bln, or 45% more than in 2010...

Most Russians support the calls to force bureaucrats to use locally made cars

If the poll is broken down along party lines, the most vocal supporters of this revolutionary idea were the Communist Party (71%) and Just Russia Party (70%)...


Favorit Motors Peugeot Showroom receives the Audience's Preference Choice Award

A total of 54 showrooms, including those of Audi, Bentley, Volkswagen, Ferrari, Maseratti, took part in the Best of the Best contest in 17 nominations...

Russia heeds Greenpeaces recommendation to slap a special fee on carmakers

Explaining the policy, First Deputy Prime Minister Igor Shuvalov called the fee a compensation, a barrier, to prevent used cars from flooding the Customs Union market...


QIWI and Home Credit Bank simplify credit repayment process

Commenting on this partnership, Alla Shishkina, the director of KIWI Banks Corporate Clients Department, noted that banks primary task is to expand the list of banks, whose services can be paid through QIWI...

Issue: April 2012, Vol.7, No.4     Author: Alex Freedmann
Tags: QIWI

Russian Venture Company turns into RVC after rebranding

Commenting on the rebranding, RVC CEO Igor Agamirzian stated that the new name demonstrates to the global innovative community that the company has changed, not only internally, but also externally...

Issue: April 2012, Vol.7, No.4     Author: Alex Freedmann
Tags: RVC

Quintiles and RVC Biofund to expand clinical development capabilities in Russia

Commenting on the agreement, RVC CEO Igor Agamirzian noted that RVC Biofund was established with the purpose of investing into biopharmaceutical companies and biotech start-ups...

Issue: March 2012, Vol. 7, No.3     Author: Edwards Johnson
Tags: RVC

Russian young business executives launch Leaders Club non-profit partnership

Artem Avetisyan, the club's president, said the organisation's membership comprises young people, who are not indifferent to Russia's fate...


Russias Grocery industry union to establish a national quality products seal

Maxim Protasov, the union's head, said the Quality Seal concept will be finalized either by the end of 2012 or early next year...

Alpari brokerage to simplify foreign assets investment procedures for Russian clients

The head of Alpari's Investment Products Department said the emergence of these products stems from the growing interest in foreign markets among Russian investors...

Issue: March 2012, Vol. 7, No.3     Author: Edwards Johnson
Tags: Alpari

Interior Ministry suspects fraud in Renovas purchase of a Trade Mission building

Viktor Vekselberg, the group owner, said bringing criminal charges against his company will be a big surprise for everyone in and outside the company...

Average growth rate of elite suburban cottages prices to reach 12% in 2012

The greatest demand is for properties located within 20-30klm from the Moscow ring road, where buyers were mostly interested in 300-400sqm houses worth $1mln-$2mln in 2011...


The volume of real-estate assets under construction in Moscow exceeds 1 trillion rubles

The main task facing the city in the construction sector, according to the deputy city mayor overseeing urban development policies, is to reduce this volume several times...

BMW does not intend to invest into new auto production plants in Russia

The BMW Group Russia CEO, however, also noted that the Kaliningrad-based BMWs Russia subsidiary, Avtotor, will produce 20,000 vehicles and increase its dealership centers in 2012...

Issue: March 2012, Vol. 7, No.3     Author: Inga Friedelhaus
Tags: BMW

Volvo sums up its Russia operations in 2011 and announces plans for 2012

The units' CEOs noted that in 2011 a special attention was paid to post-sales services to end customers, while their plans for 2012 include launching several new products...

Issue: March 2012, Vol. 7, No.3     Author: Inga Friedelhaus
Tags: Volvo

Russlavbank and Russian Standard Bank launch a new online payment service

The new facility's reak beauty is the relative ease and convenience of getting all banking services in one office within a walking distance from home or places of work...


VTB and Sberbank come under fire for fueling inflation and bank interest rates

Responding to CEOs complaints against Sberbank and VTB Group, Putin last month ordered the finance minister to fix the causes of unjustified growth of interest rates on bank loans for companies...

Issue: March 2012, Vol. 7, No.3     Author: Andrei Ivanov
Tags: VTB

Majority of Russias largest banks in dire need of generous recapitalization

According to S&P data, only a few of the largest Russian banks capitalization as at the end of 2010 could be classified as 'adequate' or 'more than adequate'...


Kremlin's 'Strategy 2020' meeting focuses on possible growth scenarios for Russia

The high profile conference, attended by top bureaucrats, industry experts and business schools execs, was devoted to macroeconomics, a key component of the strategy...

Issue: March 2012, Vol. 7, No.3     Author: Alex Freedmann
Tags: Medvedev

Tatnefts petrochemical subsidiary conquers the world with its quality products

A significant role in Tatarstans economy belongs to Tatnefts subsidiary, which includes Tatneft-Neftekhim Management Co. and TANECO...


Moscow and Ivanovo Region pen a broad cooperation agreement

Commenting on the penned document, Ivanovo Region Gov. Mikhail Men stressed that the agreement is aimed at preserving all the existing accords signed by the two partners...

Issue: July 2011, Vol. 6, No. 6     Author: Andrei Ivanov
Tags: Sobyanin

This summer traveling with Alitalia becomes more comfortable

The new policy aimed at boosting its passengers comfort includes provision of special privileges to clients that will purchase tickets between now and end of September...


Russias national carrier Aeroflot declared best airline in Eastern Europe in 2011

Aeroflot, Russia's largest airline, received the international prize SkyTrax World Airline Award as the Best Airline in Eastern Europe in 2011 at Bourget...

Increasing cases of blinding pilots with lasers pose threat to flight safety

The latest incident occurred in mid-June in Rostov-on-Don, when the crew of UTair airline's B737 was blinded on its approach to the local airport...


Home Credit hires a new top executive for its Moscow business operations

The new executive, Alexei Karchazhkin, will be in charge of banking products sales, service quality level and network development in Moscow and Moscow Region...

Ford and Sollers pen an agreement on creation of a new auto JV business in Russia

The agreement was penned by Ford Europe chairman and CEO and Sollers CEO Vadim Shvetsov at an official ceremony attended by Prime Minister Vladimir Putin...

Issue: July 2011, Vol. 6, No. 6     Author: Irina Kozlova
Tags: Sollers

Ekonika crowns its rebranding procedures with a new corporate name

The companys new name Novard comes from the ancient word navarh, which means the flagship of a fleet...

Issue: June 2011, Vol. 6, No. 5     Author: Andrei Ivanov
Tags: Ekonika

Demand for Prokhorovs People's Yo-mobile overshoots targeted annual production plans

According to the company's data, the results of the preliminary order reservations, which kicked off on May 16, have shown that the demand for Prokhorovs peoples car has exceeded its projected annual production target...

Issue: June 2011, Vol. 6, No. 5     Author: Andrei Ivanov
Tags: Prokhorov

Multibillionaire Lebedev seeking buyers for a controlling stake in his bank

The multibillionaire specially emphasized that his bank does not have any problems, as it has a clear structure of assets and liabilities...

Issue: June 2011, Vol. 6, No. 5     Author: Andrei Ivanov
Tags: Lebedev

Thailand and Russia agree to boost bilateral cooperation in the MICE sphere

An MoU on this issue was signed by RTBC and TCEB leaders, who called the step a new base for further strengthening the ongoing ties between Russia and Thailand...

Issue: May 2011, Vol.6, No. 4     Author: Inga Friedelhaus
Tags: MICE

Ingosstrakh posts its preliminary financial performance results for first quarter of 2011

Ingosstrakh CEO, who disclosed these data in April, noted that the highest rates of increases in premiums were recorded in agro, air and maritime insurance...

English First becomes an official provider of language training services to Sochi-2014

Speaking at the agreement signing ceremony, SOC-2014 CEO noted that EF has demonstrated its highest standard via its deep experience with the Olympics...


Novatek and Total sign strategic cooperation memorandums in the energy sector

The documents were signed by Novatek President Leonid Mihelson and Total President Christophe de Margerie at the presence of Russian Prime Minister Vladimir Putin...

RCCI head pledges to improve investment climate worsened by the Yukos case

Most of this negative media hype, according to the new RCCI chief, is not based on acquaintance with the materials of the case, but on raw emotions...

Issue: April 2011, Vol. 6, No. 3     Author: Inga Friedelhaus
Tags: RCCI

JSFC Sistema board approves companys transformation into investment fund

According to the Sistema board of directors, these transformations were dictated by the need to switch from an operational holding model to an investment fund model...

Issue: April 2011, Vol. 6, No. 3     Author:
Tags: JFSC Sistema

Putin and King of Spain agree to cooperate on Sochi Olympics and World Cup projects

During the talks, Putin noted that Russia and Spain have lots of interesting and perspective projects in all aspects of bilateral cooperation...